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Released November 23, 2022 | SUGAR LAND
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--A strike scheduled for this week at the Escondida mine in Chile was called off following negotiations between the workers' union and BHP Group Limited (Melbourne, Australia), the largest stakeholder of the mine.
The strike at the world's largest copper mine was expected to start on Monday and last until Wednesday, but was called off after BHP offered a one-time bonus to the workers, according to Chilean newspapers such as Bio Bio. The agreement also includes "better work practices," according to Bio Bio.
The strike was called after the workers' union cited security and safety concerns at the mine, which experienced three fires in the last few weeks. However, BHP claimed it had high operational standards and care for its workers, in a statement quoted by Bio Bio.
Meanwhile, the union has called for several meetings this week so that workers can vote on the proposal put forward by BHP, before making a final decision on the offer. It remains unclear what will happen if the workers reject BHP's offer.
Strike actions are not uncommon the Escondida mine, given constant disputes between the union and the company. Just this year, at least three strike threats have been launched.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the plant profile.
Any incidents at the Escondida mine can lead to changes in the international copper sector due to the size of the operation and its importance for the global supply. For example, in 2017, a 44-day strike at the mine impacted the world's global copper supply and Chile's gross domestic product.
Chile is the largest copper producer in the world, with an output of 5.6 million metric tons last year, according to the Chilean Copper Commission. The Escondida mine represented about 18% of the total production.
Click on the image at right for a graph showing 2021 copper production in Chile by mining operation.
In 2021, Chile exported about 5.7 million metric tons of copper (bulk, blister and refined), with China standing as the top importer by bringing in over half of the flows, based on Chilean Copper Commission data. The second- and third-largest importers of Chilean copper last year were the U.S. and Japan, with 630,000 metric tons and 522,000 metric tons, respectively.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
The strike at the world's largest copper mine was expected to start on Monday and last until Wednesday, but was called off after BHP offered a one-time bonus to the workers, according to Chilean newspapers such as Bio Bio. The agreement also includes "better work practices," according to Bio Bio.
The strike was called after the workers' union cited security and safety concerns at the mine, which experienced three fires in the last few weeks. However, BHP claimed it had high operational standards and care for its workers, in a statement quoted by Bio Bio.
Meanwhile, the union has called for several meetings this week so that workers can vote on the proposal put forward by BHP, before making a final decision on the offer. It remains unclear what will happen if the workers reject BHP's offer.
Strike actions are not uncommon the Escondida mine, given constant disputes between the union and the company. Just this year, at least three strike threats have been launched.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for the plant profile.
Any incidents at the Escondida mine can lead to changes in the international copper sector due to the size of the operation and its importance for the global supply. For example, in 2017, a 44-day strike at the mine impacted the world's global copper supply and Chile's gross domestic product.
Chile is the largest copper producer in the world, with an output of 5.6 million metric tons last year, according to the Chilean Copper Commission. The Escondida mine represented about 18% of the total production.
In 2021, Chile exported about 5.7 million metric tons of copper (bulk, blister and refined), with China standing as the top importer by bringing in over half of the flows, based on Chilean Copper Commission data. The second- and third-largest importers of Chilean copper last year were the U.S. and Japan, with 630,000 metric tons and 522,000 metric tons, respectively.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
